Biden to Address Budget and Debt Agreement from Oval Office After Approval

The budget and debt agreement refers to a compromise reached between President Biden and House Speaker Kevin McCarthy to address the country’s budget and avoid a government default.

The agreement includes provisions to suspend the nation’s debt limit until 2025, allowing the government to continue borrowing to pay existing debts. It also imposes spending restrictions, modifies certain policies, and incorporates work requirements for older Americans receiving food aid.

The agreement was the result of negotiations between President Biden and House Speaker Kevin McCarthy. Both sides made compromises, with Republicans securing some spending cuts while Democrats protected their major priorities.

President Biden’s speech serves as an opportunity for him to address the nation and discuss the details and implications of the budget and debt agreement. It will provide insights into his stance on the compromise and its impact on the economy and the American people.

President Biden’s speech is scheduled for Friday evening at 7 p.m. EDT. It will be delivered from the Oval Office, symbolizing the importance and gravity of the budget and debt agreement.